Ralph Lauren quietly shuttered its two-year-old 20,000-square-foot store last week. Other brands are expected to close boutiques in a city that has lost its luster for cash-rich mainland Chinese tourists.

MANAGEMENT ISSUES: On Thursday night, Dazed and Confused hosted a party with a performance by MGMT to kick off the Mini Rooftop NYC series. “The creative class of New York,” as the publicists billed the crowd, relaxed before the flurry of fashion week with mini bottles of Champagne and DJ Diplo’s mix of Eighties tunes and Brazilian beats. Jessica Stam took a break from fittings to see the concert. “I’m excited to see my designer friends like Catherine Holstein and Alex Wang next week,” Stam said. Mary-Kate Olsen, in black Birkenstock heels, sipped Blue Moons while sprawling with friends on the series’ art installation, which resembles a cross between a grass tuffet and a jungle gym. The evening peaked when MGMT took the stage and played “Electric Feel” for a writhing, cheering crowd. And then the band inexplicably started throwing beer on the audience, at which point the crowd walked off, slightly confused, into the streets.

CARDIN CAPERS: Pierre Cardin, the Space Age Paris couturier, is coming back to the runway. The indefatigable Cardin, who is 86, has decided to show his new spring collection Oct. 1 in a space in the Marais district. A spokesman for Cardin, who also has interests in hotels and restaurants, said the designer last week resolved that it was time he returned to the runway. The last time Cardin showed in Paris was four years ago, the spokesman said. He added that a selection of vintage pieces were sure to be intermingled among Cardin’s new designs. Cardin was in China this summer to stage a musical based on Marco Polo to coincide with the Olympic Games in Beijing.

HOMECOMING KING: Ever since leaving Los Angeles’ Ron Herman as vice president of women’s wear earlier this year, John Eshaya has been busy designing graphic T-shirts, jeans embroidered with lightning bolts and sexy sweats for Jet by John Eshaya. By the end of this year, Eshaya plans a return to retail with his label’s first freestanding store at the Fred Segal complex in Santa Monica, Calif. The ice rink-turned-shopping destination is familiar to Eshaya, who already sells the casualwear line he started 21 years ago at Fred Segal Fun.

LOVE IN?: Speculation in London has it that British retail guru George Davies is feeling some amore for Italian fashion brand Love Sex Money. Davies, who heads up design for Marks & Spencer’s Per Una line, founded ASDA’s George range. An M&S spokesman said the firm had “nothing to report,” noting that such rumors circulate from time to time. A spokeswoman for Love Sex Money, which was founded in 1992 by designer Lorella Signorino, declined comment.

SELFRIDGES’ CELEBRITY SELL-OFF: Undaunted by recent business woes, Sadie Frost has rounded up her celebrity pals — and she certainly has a lot of ’em — to help raise money for a breast cancer charity, with help from Selfridges. Frost, whose FrostFrench lingerie label recently went into administration, has organized a silent auction with lots including black peep-toe Louboutin stilettos autographed by Kate Moss, a Martin Margiela suit sported by Jude Law in “Alfie” and a signed guitar by Oasis front man Liam Gallagher. The auction is in aid of Breast Cancer Care, and the items are on display in Selfridges’ Room of Wonder. Bids can be placed on the Selfridges Web site until Sept. 25.

VALENTINO TO PROMOTE MANGO AWARD: Valentino just isn’t sitting still. While fast fashion is hardly his style, the retired designer is expected to attend a Sept. 28 press conference at Mango’s revamped Boulevard Haussmann flagship in Paris to promote the brand’s fledgling El Botón (The Button) Mango Fashion Awards. Valentino presides over the jury for the initiative, launched at the end of 2006, which takes place every 18 months and is positioned as a springboard for semi-established young designers. Sandrina Fasoli, co-winner of the competition’s inaugural edition, also will be present, as will a number of Mango executives including the brand’s president Isac Andic. This year’s 10 finalists will be unveiled in November, with the winner to be revealed in April. The award represents a cash prize of 300,000 euros, or $439,000 at current exchange.

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@rebeccaminkoff is bringing self-checkout to high fashion: The brand has partnered with @queuehop to bring its customers self-checkout options, beginning this holiday season at its SoHo store. (📷: @aurorarosephoto)